C2C Gold Corporation Inc.

C2C Gold Corporation Inc.

September 08, 2009 10:05 ET

C2C Gold Corporation Inc. Announces Arbitration Proceedings in Ecuador

MONTREAL, CANADA--(Marketwire - Sept. 8, 2009) - C2C Gold Corporation Inc. ("C2C")(TSX VENTURE:CCN) announces that arbitration proceedings must be initiated to force profit sharing in connection with its Joint Venture gold mine in Ecuador. C2C estimates that it is owed $200,000 per month, for a total of $1,200,000.

C2C is presently devoting all available resources to the resolution of this impasse. C2C is actively insuring that the terms of its Joint Venture agreement are upheld and has sought local legal representation.

This situation will most likely have direct implications on current financing facilities which C2C was currently negotiating with Swiss investors regarding a gold loan.

About C2C

C2C is an active gold producer working in south western Ecuador through a Joint Venture exploiting the Paraiso-Pambil gold mine-mill complex.

Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to be materially different from any future results.

Number of issued and outstanding shares: 103,404,344

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • C2C Gold Corporation Inc.
    Louis Lessard
    Chairman of the Board of Directors
    C2C Gold Corporation Inc.
    Jean-Francois Lemay
    Corporate Development and Investor Relations